ViacomCBS will raise the curtain on its renowned and expanded streaming service Paramount + on March 4, the company said today, marking the latest step in its efforts to compete with OTT big hitters like Netflix and Disney +.
The renowned service, which replace CBS All Access streamer and will include new originals from across the ViacomCBS portfolio, arrive in the United States, Canada and Latin America on March 4, and premiere in the Nordic countries on March 25, the company said. The platform will debut in Australia later this year.
ViacomCBS plans to detail investors its broader streaming strategy, which includes Paramount +, as well as the free and ad-supported streamer Pluto TV and the premium subscription service Showtime OTT, on February 24, a week before the planned relaunch. of service.
The early March premiere date means Paramount + will debut with consumers less than a month after the next Super Bowl Airing, scheduled to air on CBS on February 7. The timing makes it almost certain that the game will be a huge marketing opportunity for the upcoming service, which ViacomCBS hopes to attract a wide range of viewers.
ViacomCBS, created after CBS and Viacom merged in December 2019, sought to position his company better capitalize on the opportunity presented by direct-to-consumer streaming, and underwent an executive overhaul in October to streamline operations and make streaming more centralized within the company.
With Paramount +, the company seeks to leverage its library of movies and shows to attract viewers while capitalizing on expanding opportunities in international markets with a globally recognized brand.
Unlike competitors who spent the last year launching entirely new consumer services, the launch of Paramount + will require re-educate consumers who may have a familiarity or affinity with the soon to be closed CBS All Access brand.
Like many other entertainment companies, streaming is becoming an increasingly important part of ViacomCBS ‘business. During call with investors in November, Bob Bakish, CEO of ViacomCBS, detailed the company’s streaming growth. Domestic streaming and digital video revenue reached $ 636 million, an increase of 56% from the previous year, and the company’s subscription streamer revenue grew 78% from year to year.
Free ad-supported streamer Pluto TV also scored victories, with domestic monthly active users rising to 28.4 million and 36 million monthly active users globally, Bakish said.